A type of dwelling wherein units have shared walls and common space. In this form of ownership, the area owned is considered to be the space inside of the walls of each unit and a shared interest in the common areas of the complex (which does mean regulations about what you can do with your property and its appearance). There is a monthly fee assessed to cover the cost of maintaining the exterior of each building, the common area landscaping and things like water, sewer, garbage, pest control, and sometimes even cable, gas and electricity are paid for. This fee could be hefty, but does have its advantages in terms of resale and property appearance. Regulations and rules vary widely between complexes, so be sure to ask for a copy of the covenants any condo or townhome you may consider buying.